Ohio Professional Standards and Responsibilities

Publisher
WiseGuides, Inc.
2796 Greenspire Ln
Akron, Oh 44333
Copyright © 2014

Field of Study: Ethics
Level: Basic
Recommended CPE Credit 3 hours
Prerequisites: None
Advanced Preparation: None
Type of Delivery: Self-Study
Expiration: Course expires 1 year after purchase
Course Update: 4/4/2013
Accreditation: Ohio
Guarantee/Complaint Resolution

IRS Program number: E02011

Course Outline


Lesson 1 - Ethics: Statutes (Ohio Revised Code)
Learning Objectives 1
Notification of Proposed Rule Changes
False Advertising Definition - Sec. 4701.12
Unlawful Practice Substantial Equivalency - Sec. 4701.14
Unlawful Practice Defined (A) - Sec. 4701.14
Unlawful Practice Substantial Equivalency (B) - Sec. 4701.14
Unlawful Practice Substantial Equivalency Partnership Organization(C)
Partnerships Section 4701.14
Professional Association Section 4701.14
Corporation-for-profit Section 4701.14
Limited Liability Company Section 4701.14
Unlawful Practice (D) - Sec. 4701.14
Unlawful Practice (E) - Sec. 4701.14
Unlawful Practice (F) - Sec. 4701.14
Unlawful Practice (G) Sec. 4701.14
Unlawful Practice (H) - Sec. 4701.14
Unlawful Practice, (I) - Sec. 4701.14
Employees Of Public Accountants - Incidental Practice - Sec. 4701.15
Discipline Of Registrant Or Certificate Holder - Sec. 4701.16
Reissue Of Revoked Certificate - Sec. 4701.17
Injunctions Or Restraining Orders - Sec. 4701.18
Records - Sec. 4701.19
Certificate Or Permit Holders In Default On Child Support Orders - Sec. 4701.28
Board Investigations - Sec. 4701.29

Lesson 2 - Ethics: Technical Standards
Learning Objectives 2
Practice of Public Accounting - Rule 4701-7-04
Integrity and Objectivity - Rule 4701-9-01
General Standards - Rule 4701-9-02
Generally Accepted Auditing Standards - Rule 4701-9-03
Generally Accepted Accounting Principles - Rule 4701-9-04
Attestation Standards - Rule 4701-9-05
Accounting and Review Services Standards - Rule 4701-9-06
Consulting Standards - Rule 4701-9-08
Tax Services Standards - Rule 4701-9-09
Quality Control Standards - Rule 4701-9-10

Lesson 3 - Ethics: Behavioral Standards
Learning Objectives 3
Independence
Confidential Client Information
Contingent Fees
Commissions and Referral Fees
Form of Practice and Name
Retention of Client Records
Board Communications
Acts Discreditable
Application of Ethics Rules

Lesson 4 - Continuing Education Standards
Learning Objectives 4
Continuing Education Standards - Rule 4701-15-01
Continuing Education Requirement - Rule 4701-15-02
Continuing Education Reporting - Rule 4701-15-03
Measurement of Continuing Education Credit; Types of Programs - Rule 4701-15-04
Requirements for Continuing Education Program Acceptance - Rule 4701-15-05
Reduction of Continuing Education Requirement - Rule 4701-15-06
Continuing education deficiency; late filing fee - Rule 4701-15-07
Deficiency status - Rule 4701-15-08
Converting to Ohio permit status - Rule 4701-15-09
Continuing education sponsor registration - Rule 4701-15-10
Required continuing education programs - Rule 4701-15-11
Continuing education verification - Rule 4701-15-12
Continuing education requirements of non-CPA owners - Rule 4701-15-13

Lesson 5 - AICPA Code of Professional Ethics
Learning Objectives 5
AICPA Code of Conduct - Overview
Summaries of the Six Principles
The Eleven Rules of Conduct

Lesson 6 - Summaries of the Eleven Rules
Learning Objectives 6
Rule 101 - Independence
Rule 102 - Integrity and Objectivity
Rule 201 - General Standards
Rule 202 - Compliance with Standards
Rule 203 - Accounting Principles
Rule 301 - Confidential Client Information
Rule 302 - Contingent Fees
Rule 501 - Acts Discreditable
Rule 502 - Advertising and Other Forms of Solicitation
Rule 503 - Commissions and Referral Fees
Rule 505 - Form of Organization and Name

Lesson 7 - AICPA's Standards For Tax Services
Learning Objectives 7
SSTS No. 1 - Tax Return Positions
SSTS No. 2 - Answers to Questions on Returns
SSTS No. 3 - Certain Procedural Aspects of Preparing Returns
SSTS No. 4 - Use of Estimates
SSTS No. 5 - Departure from a Position Previously Conducted in an Administrative Proceeding or Court Decision
SSTS No. 6 - Knowledge of Error: Return Preparation
SSTS No. 7 - Knowledge of Error: Administrative Proceedings
SSTS No. 8 - Form and Content of Advice to Clients

Lesson 8 - Licensing and Disciplinary System Within The Profession
Learning Objectives 8
The AICPA’s Disciplinary Mechanisms
The SEC, IRS, and PCAOB Disciplinary Mechanisms
State Boards of Accountancy Disciplinary Mechanisms
AICPA Membership Requirements

Course Objectives

Lesson - 1
After studying this lesson you will be able to:
  • Know when to use the abbreviation "CPA" in a partnership.
  • Know the types of sanctions the accountancy board may impose on a person holding an Ohio permit.
  • Determine how client records in the possession of the accountant should be handled.
Lesson - 2
After studying this chapter you will be able to:
  • Outline the professional ethics and conduct for Ohio CPAs.
  • Summarize the ethical concepts promulgated in the Code of Professional Conduct.
Lesson - 3
After studying this chapter you will be able to:
  • Determine when a permit holder may practice public accounting for a contingent fee.
  • Understand which acts would be determined by the Ohio Board of Accountancy as conduct discreditable to the accounting profession.
Lesson - 4
After studying this chapter you will be able to:
  • Determine how many hours of CPE are required each triennial reporting period.
  • Compute the requirements for continuing education program acceptance.
  • Determine which types of continuing education programs need to be completed based on areas of practice.
Lesson - 5
After studying this chapter you will be able to:
  • Determine which AICPA Conduct Rules apply only to members in the practice of public accounting.
Lesson - 6
After studying this chapter you will be able to:
  • Determine in which circumstances a CPA would lack independence.
  • Determine what disclosures a CPA must make when financial statements do not comply with GAAP.
Lesson - 7
After studying this chapter you will be able to:
  • Determine when CPAs are obligated to communicate with the taxpayer when subsequent developments affect previous advice.
Lesson - 8
After studying this chapter you will be able to:
  • Determine which governmental bodies have the authority to suspend or revoke a CPA's license.